At Gadens, we pay our people equally for comparable roles, regardless of gender. We are confident that we have pay equity at Gadens. In saying that, it is important to note that pay equity and the GPG are different.
Pay equity is about paying each person the same amount of money, regardless of gender (assuming equal performance). The gender pay gap (GPG) is the difference between the earnings of men and women, expressed as a percentage.
As a result, a GPG can arise when an organisation’s balance of women to men ratio favours one gender over the other.
The GPG calculation does not yet include data about non-binary employees. The Workplace Gender Equality Agency (WGEA) is working in partnership with specialist organisations to develop an approach to support employers to collect this information in a way that is safe and respectful to people who identify as non-binary.
Our GPG summary
Gadens 2023
Gadens 2022
Legal industry comparison
Australian comparison
Median (TR)
11.30%
13.10%
22.90%
19%
Median (BR)
13.60%
12.60%
20.80%
N/A
Average (TR)
14.10%
14.30%
26.40%
21.70%
Average (BR)
12.60%
12.50%
22.40%
N/A
Despite the progress we have made and our GPGs being significantly lower than the legal industry and overall Australian figures, there is still more work to do.
Key
TR: Total remuneration (includes superannuation and bonuses) BR: Base remuneration (excludes superannuation and bonuses) N/A: No information is currently available from the WGEA
Our GPG contributors
The largest contributing factor to our GPG is the composition of our workforce. During the reporting period (2022/2023), Gadens had over 300 employees and, of these, 68% were women.
There can be challenges in closing the GPG when an organisation has one dominate gender; not because they don’t pay equitably, rather because there are large numbers of one gender in the workforce which impacts the calculation of average earnings.
The strategy that will have the biggest impact on our overall GPG, is elevating more women into senior leadership roles, which is a key focus of the firm.
Actions and strategies: What we are doing to close the GPG
Although we have confidence that we pay our people equitably, we still believe there is more to do in addressing the GPG. Here are just some of the things we are doing to close the gap even further:
Increasing females in leadership positions
Ensuring that we have greater female participation at leadership level is something that has been a key focus at Gadens.
For the reporting period, women comprised:
45% of our Partnership (an increase from 25% in 2018)
43% of our Executive team (an increase from 33% in 2021)
33% of our Board (compared to the legal industry average of 24%)
Remuneration and promotions
We apply rigour and thorough analysis to our remuneration and promotion processes, including using the Mercer data (the Nation’s leading remuneration data experts) and conducting thorough moderation processes, to ensure equal pay for equal performance.
Parental leave
The firm launched its market leading gender-neutral Parental Leave policy in 2022, offering 30 weeks’ paid leave with flexible options. In the move to offer universally available paid parental leave, which most often benefits women and enables them to rejoin and stay in the workplace, we:
Removed the distinction between primary and secondary carers.
Now pay superannuation during paid and unpaid leave, for up to 52 weeks, based on the person’s full-time equivalent, even for part-time staff.
This change lessens the impact on women’s superannuation over their lifetime and positively impacts their earning capacity, thus easing the retirement savings gap for women – thereby reducing the GPG.
Flexible working
Flexible arrangements such as remote work, flexible hours, and part-time options empower our people to effectively manage both professional and personal obligations, regardless of gender. This ensures women stay in the workplace and profession longer.
Diversity
Diversity and Inclusion is an integral part of our vision and strategy and can have significant impact on those in leadership roles, and therefore the GPG. Our Diversity and Inclusion strategy encompasses several areas.
We believe in creating an environment where all our people feel empowered, respected and appreciated for their skills and dedication. By fostering a culture of fairness and equality, we aim to attract, retain, and develop a diverse and talented workforce that drives innovation and success.
We understand that closing the GPG is an ongoing journey, we have more work to do, and we remain steadfast in our commitment to continuous improvement. Gender equality and pay equity is a top priority for our firm and should be for all Australian organisations.
